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This will negatively impact revenues across the chip industry (at least in most cases), and typically, these situations call for re-evaluation of cost and margins, said Gartner analyst Gaurav Gupta in an email to The Verge. Nasdaq Lot of rumors flying around, It seems Tower deal is unlikely to go through, Didnt intel purchase BTC back in 2017. More pain might be ahead. In a press release, the company said the 'restructuring initiative' would ' accelerate its evolution from a . of which the company is a component, is down about 8% year to date, while the Nasdaq Composite Index The news comes from "people with knowledge of the situation" so be cautious until it can be verified. The company's long term goal is to save $8 billion to $10 billion by the end of 2025. Developed a web server that grants users access to . This quarters results could mark a historic slowdown for the PC market., This quarters results could mark a historic slowdown for the PC market, said Gartner director analyst Mikako Kitagawa in a press statement. Visit our corporate site (opens in new tab). According to documents filed with the state of California, Intel will be cutting around 200 positions at its headquarters in Santa Clara. Historically, companies announcing layoffs have underperformed the market in the long run. All Rights Reserved, By submitting your email, you agree to our. Also, M&A expert Matt Poirier arrived in May 2022. On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. However, employee layoffs are a sign of growing problems within the tech sector and, more broadly, the U.S. economy. As it turns out, declines of PC sales were steeper than expected and probably the delay of the company's 4th Generation Xeon Scalable 'Sapphire Rapids' data center platform played its role, so Intel needs to adjust its costs beyond reduction of CapEx. The announcement comes after reports that Intel is planning on cutting thousands of jobs. All rights reserved. Intel to possibly cut workforce later this month. The company currently has 113,700 employees. Lot of dead weight and management silos. Intel employs 121,000 people, so laying off thousands of workers means cutting multiple percent of the businesss staff. Indexed financial assets with Elasticsearch & developed a reporting system that allows relevant parties to receive news and alerts about their financial contracts (Elasticsearch, Kibana, Java, Gradle, Bitbucket). Since then, hes focused on rebuilding the company to its former station at the leading edge of chip manufacturing by building more manufacturing capacity. Intel has chosen not to comment on the layoffs. You can learn all about that at the following links! However, in the long term, layoffs tend to lead to decreases in stock prices. . Intel's business problems started long before the current PC market implosion. It is doing this, the company says, by "reducing compensation and rewards programs for employees and executives." He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. Meta Platforms (NASDAQ:META) just announced that it will cut 11,000 jobs due to overzealous hiring practices during the pandemic. Doesnt give a f-k about anyone. Intel heavily depends on PC sales. - Managing Editor, Silicon Valley Business Journal. The job cuts come as higher interest rates cool the U.S. economy, with many economists and analysts worried that we are entering a recession. Layoffs leave people without jobs, forcing them to find new sources of income. The company didnt immediately reply to The Verges request for details on the number of workers that it expects to lay off and what departments will be hit. Layoffs typically dont happen because a company is in a good financial situation, Intel will not be the exception. Refuses to hear a counter narrative Intelligent engineers already jumped ship from here. In July, the company. Prays to the lord, his only master. readmore, Intel Axes Rialto Bridge GPUs, Delays Falcon Shores to 2025 On March 1, 2020, Shopify said it had more than 5,000 employees; as of Tuesday it said it has more than 10,000 without accounting for the layoffs. Get the latest tech news, straight to your inbox. The layoffs by Intel follow tens of thousands of job cuts announced by other tech giants recently, including Meta Platforms Inc. Jun 2018 - Jul 20182 months. Companies including Microsoft and Google have laid off thousands this month, with other companies such as Spotify or Amazon set to follow suit. Dell reported a 6% year-over-year sales decline in late Musk said he made his account private to run an engagement A new survey found that compensation and work-life balance With one US state proposing tax credits for companies that Intel aims to slash $3 billion from its annual budget in this year, after revenues dipped by about 20% in 2022. This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp. The company said then its consumer chip sales had shrunk by 25 percent while overall revenue declined 22 percent. Engineering has software called workpace that makes them stop typing of they type too quotes delayed at least 15 minutes, all others at least 20 minutes. Intel Corp. plans to lay off dozens of Northern California employees in early 2023, including more than 100 at its large Folsom campus . Shares of Intel (NASDAQ:INTC) stock are in focus today after the semiconductor manufacturer announced that it is cutting hundreds of jobs at its California office and indicated that more staff reductions are on the way. Future US, Inc. Full 7th Floor, 130 West 42nd Street, Back in July the company reported its first loss in decades and said its 2022 revenue would be up to $11 billion lower than expected. Subscribe Now to the ChannelPro monthly magazine! The most patriotic Christian ceo Intel has ever produced. Could have told you this was coming. The company cut its year sales and profit goals in July after its second-quarter performance fell short of expectations. He covers news for a wide range of subjects including business, finance, economy, politics and social media. According to a recent report out of Oregon, the chip company is preparing to announce layoffs in the near future. Intel is facing a steep decline in demand for PC processors, its main business, and has struggled to win back market share lost to rivals like Advanced Micro Devices Inc. The Financial Balancing Act Of 2023: Prioritizing Sustainable Growth, 12 Essential Things To Know Before Leveraging Tax Equity Investments, 3 Emerging Trends In Silicon Valley's Unicorn Market, Three Ways To Shore Up Your Risk Management Practices, Q.ai - Powering a Personal Wealth Movement. Other tech companies that have announced workforce reductions in California include Meta Platforms (NASDAQ:META), Salesforce (NYSE:CRM) and Twitter. So far, Intel has primarily produced semiconductors that it has created. But in terms of raw gaming performance, Intel's Raptor Lake has been tough to beat. of acorns inside a California homeowners walls. She also said Tuesday that the company is slashing costs across the board, including looking at its product and intellectual-property portfolio and its real estate footprint. Apple is facing numerous challenges, but Morgan Stanley analyst says there are reasons to buy the stock. Adam is a writer at Tech.co and has worked as a tech writer, blogger and copy editor for more than a decade. Updated Feb 28, 2023, 1:55pm PST. In a statement timed to coincide with the Santa Clara, Calif.-based chipmaker's latest quarterly earnings report, Intel announced a major corporate restructuring that includes the . He's also contributed to Free Press Journal and TheRichest with feature articles. Copyright 2023 InvestorPlace Media, LLC. Not again! Levi Sumagaysay is a senior reporter at MarketWatch in San Francisco. 1125 N. Charles St, Baltimore, MD 21201. However, cutting costs could be good since it may help boost the businesss profits and its stock price. Channel news and insights delivered to your inbox: Subscribe Now to the ChannelPro monthly magazine. According to letters Intel What are you prepared to sacrifice for Intel. Read: Apple, Nvidia reportedly among TSMCs first Arizona customers, while Intel preps for return to cutting edge in 2023. The decline in IT investment is affecting Intel's PC, data centre, and artificial intelligence businesses, which is hurting revenue and earnings. According to Intel, the payroll reductionwhich the company will realize by consolidating offices, canceling unspecified programs, and implementing both voluntary and involuntary departureswill save it $750 million this year and approximately $1.4 billion a year by 2017. That day, Intels stock opened at around $25 per share. quotes delayed at least 15 minutes, all others at least 20 minutes. The speculated layoffs could affect thousands of people across multiple divisions, according to Bloomberg's unknown source. The force reduction had been widely rumored in the media for several days. The company will likely see sales and marketing jobs cut. He was a Forbes Contributor on the publishing industry, for which he was named a Digital Book World 2018 award finalist. A longtime Silicon Valley tech reporter, she covers the gig economy, inequality and corporate accountability. When you deposit $100, well add an additional $100 to your account. The new round of layoffs came on the heels of a Truelieve donation of an extra $5.5 million to a cannabis legalization . Also: VC investors see an R word coming for tech and it isnt just recession. Amazon (NASDAQ:AMZN) recently announced the elimination of 18,000 positions. If we look back at previous reports about Intel layoffs, theres a bit more thats worth keeping track of. Gartner says this is the steepest market decline its recorded since it began tracking the market in the mid-1990s. Sep 2022 - Dec 20224 months. However, he suggested that Intel's intention to issue shares of its Mobileye self-driving technology company in an IPO may allay those worries. After a. The company is expected to announce its decision late this month. The latest layoff notices from Intel mean that since Oct. 1, tech and biotech companies have unveiled job cut plans, or carried out layoffs, that affect well over 7,700 jobs in the Bay Area,. The semiconductor company is cutting jobs at its head office in Silicon Valley. Well cover what you need to know about Intels layoffs and how they might impact the companys stock price. Log in to our website to save your bookmarks. Security News Zscaler Discloses Layoffs For 3 Percent Of Employees Kyle Alspach March 02, 2023, 05:52 PM EST. Resignation letter is drafted, new job starting. Oops! +6.14% Several Nike employees took to LinkedIn Tuesday to say they were laid off from the . Additionally, COVID-19 limits in China, a significant PC market, and the unrest in Ukraine, which has hindered supply chains and weighed on demand, are placing pressure on chipmakers. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. After two years of booming sales during the pandemic, the PC market is now struggling. Revenue information: Intel annual revenue for 2019 was ~$72 Billion USD (Bloomberg) Contact information: Phone: 877.649.5817 More information: For Intel news and rumors posted by our visitors, see the entries below! Erick and Rich discuss the good news for MSPs and their clients in Dattos new security research, list three questions every channel pro should ask their employees soon, and marvel at the pet fish who made a Pokemon purchase with their owners credit card. 2023 InvestorPlace Media, LLC. Visit a quote page and your recently viewed tickers will be displayed here. Dell Cuts Over 6,500 Jobs, Dropping 5% of Its Workforce, The Real Reason Elon Musk Locked His Own Twitter Account, Survey: Most Employees Are Planning to Move Jobs in 2023, A 4-Day Work Week Could Be Coming to Your State, Tech to Replace Hundreds of Jobs in Global Citigroup Layoffs, Microsoft Windows 11 Moment 2 Update Boasts New Features & AI Integration, Microsoft Teams Could Start Censoring Profanity, TikTok Now Warns Minors to Stop Scrolling After an Hour, White House: Burden of Cybersecurity Should Be on Providers. The sooner the board fires Pat the better. That's not a defense available to every tech giant participating in the industry-wide layoff wave. Intel is the latest technology giant to announce layoffs in recent weeks. These reported layoffs come under the leadership of Chief Executive Pat Gelsinger, who took over the company in 2021. Intel's revenues have dropped by almost 20% across last year, so it makes sense that cutting jobs right now is a cost-saving measure. Being taken for a ride by his staff Anton Shilov is a Freelance News Writer at Toms Hardware US. readmore. Why Is Novavax (NVAX) Stock Up 12% Today? First word of Intels layoffs came on October 11th. The cost-cutting includes layoffs, although the number of jobs that will be eliminated is not publicly known. In recent years the company culture of innovation and research has reduced as compared to earlier periods. Amazon.com Inc. is pausing construction on its sprawling second headquarters near Washington, a decision that coincides with the company's deepest ever job cuts and a . In terms of its earnings, the company has made it out of the red in Q2, it lost half a billion dollars, and this quarter, it reported a billion dollars in profits. Taiwan Semiconductor Manufacturing Co. Ltd. For comparison, the daily average trading volume is around 41.7 million shares. In a statement distributed to staff on October 11, Intel CEO Pat Gelsinger outlined intentions for building an internal foundry model for the company's product lines and external clients. Should i be worried. ET By Levi Sumagaysay Intel is cutting costs by laying off employees and offering. Everyone knows Intel Corp. is in the midst of a painful transition from the PC era of computing to the cloud and Internet of Things era. It'll just take a moment. Intel said that these savings will majorly come from "people costs" from both operations and sales departments . Chip-maker Intel will begin to lay off workers soon as the company plans to drive nearly $3 billion in annual savings in the near term and $8 billion to $10 billion by the end of 2025, and these . META, 1125 N. Charles St, Baltimore, MD 21201. DJIA, If the layoff only impacts a percentage of the company and allows the business to keep operating according to current demand, it could be the best thing for the company to do to ensure future profitability. The report comes from Bloomberg, citing people familiar with the situation, but Intel has not publicly commented on its plans yet. Several of Intel's businesses, especially the sales and marketing sector, may suffer layoffs affecting about 20% of the workforce. ChannelPro Weekly Podcast: Episode #252 - High Jerk Tolerance, ChannelPro 5 Minute Roundup for the Week of May 30th, 2022, How to Succeed at Being an Inclusive Leader, Fujitsu fi-8170 Scanner: Speedy, High Quality with Control, Jabra PanaCast 20: Overriding Intelligence, Zyxel MG-108 2.5GbE 8-Port Unmanaged Switch. The Dow Jones Industrial Average Intel is faced with an industry-wide shift in semiconductor availability as the pandemic shortages give way to overproduction in certain segments a problem also affecting competitors AMD and Nvidia. But apparently the company needs to finally reduce its headcount of 121,000 by approximately 11% (12,000) now that PC sales are declining and the company's data center business is likely to follow suit, according to Bloomberg. Other tech companies also saw major declines in sales during the summer, indicating that this is an industry-wide slowdown rather than one that only impacts Intel. The cuts come after the cybersecurity vendor's headcount surged over the past 18 . All Rights Reserved, By submitting your email, you agree to our. Nov 29, 2022 Listen to this article 4 min Chip giant Intel Corp has started the layoffs CEO Pat Gelsinger has been alluding to for weeks. Get instant access to breaking news, in-depth reviews and helpful tips. Article printed from InvestorPlace Media, https://investorplace.com/2022/11/intel-layoffs-2022-what-to-know-about-intc-job-cuts-hiring-freeze/. In July of last year, Intel warned that its 2022 sales would be about $11 billion lower than previously forecast. Retaining our manufacturing talent is a key element of positioning Intel for long-term growth, Burr said. Joel Baglole has been a business journalist for 20 years. Would be pretty cool if they worked on a gpu that mined BTC better than anything out. Copyright 2023 InvestorPlace Media, LLC. Intel is planning substantial job cuts, likely numbering in the thousands, according to a report from Bloomberg News. Thursday has brought even more layoff news. This comes as PC demand starts to drop. Nasdaq Why It Matters Intel is the latest technology giant to announce layoffs in. Intel held on for a long time, but sooner or later you still have to execute. The rest of the cuts will come from the company's Folsom location, a research and development campus, and are set to take place in two rounds, with one coming this month and another in March. Why Is Novavax (NVAX) Stock Up 12% Today? The job cuts at Intel have the companys stock up slightly today as investors view the cost-cutting move as a positive development. has fallen about 30% this year. The company actively promoted a $52-billion chip stimulus plan in 2022, aiming to boost US manufacturing. The chipmaker will cut about 11 percent of if its payroll as it transitions from a PC-dependent company to one focused on cloud computing and the Internet of Things. It's no surprise: The tech giant had previously announced plans to lay off a meaningful number of workers. While it's certainly better than nothing for Windows users (an admittedly low bar), the overall ecosystem experience is nowhere near what Apple . The layoffs are scheduled to be completed by Jan. 31 of this year. Comparing the third quarter to the previous year, PC sales fell 15%. These folks have no idea about their own bias where they are already making a judgement on what is fair / unfair in this country Intel will take a one-time, roughly $1.2 billion charge against earnings during its second quarter this year in connection with the reorganization. https://www.reuters.com/technology/applied-materials-unveils-new-chip-tool-lower-cost-lithography-process-2023-02-28/, lets predict what will be reward part of "restore & reward" More layoffs are all but By William White, InvestorPlace Writer Nov 9, 2022, 12:41 pm EST Intel ( INTC) layoffs could be around the corner for the chip company's employees. Just search for CA "Worker Adjustment and You may opt-out by. Copyright This downturns comes even as Intel is set to receive billions in funding from the CHIPS Act; a package of US government spending intended to boost domestic chip manufacturing. In 2022, 3150+ companies announced layoffs. and Amazon.com Inc. Download Q.ai today for access to AI-powered investment strategies. In a statement timed to coincide with the Santa Clara, Calif.-based chipmakers latest quarterly earnings report, Intel announced a major corporate restructuring that includes the elimination of up to 12,000 jobs, or approximately 11 percent of its current workforce, between now and mid-2017. Intel isnt the only tech company suffering right now as inflation weighs on companies. We're so happy you liked! Article printed from InvestorPlace Media, https://investorplace.com/2023/01/intel-layoffs-2023-what-to-know-about-the-latest-intc-job-cuts/. By Marlize van Romburgh. Just don't expect any of those reasons to be confirmed any time soon. In July, Intel revised its sales forecast for 2022 from $79. Heres how it works. Copyright 2022 HT Digital Streams Ltd All Right Reserved, Fake customer care numbers are thriving in India. Like did you're projects got cancelled abruptly, manager started acting weird, sympathetic mails from BU leaders etc ? See: It was not sustainable or real: Tech layoffs approach Great Recession levels. In. According to the Worker Adjustment and Retraining Notification (WARN) notice, layoffs at Intel are set to be completed by January 31. Out over his skis I never read or heard of them selling. Intel job cuts to affect 20% workforce; layoffs start in October 2022: Report 1 min read . And they are typically viewed as a sign of distress for a company, with the perception being that the business is trying to save money that it cant afford to spend on staff. Reports that Intel planned significant layoffs surfaced earlier this month. The largest chipmaking hub in the world will be relocated to Ohio. The chip industry is changing from that of shortage to surplus (by early 2023) across a number of devices. The company is expected to announce its decision late this month. Over the past couple of decades, he has covered everything from CPUs and GPUs to supercomputers and from modern process technologies and latest fab tools to high-tech industry trends. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. 2023 Vox Media, LLC. If you follow tech news, youve probably heard that Intel, one of the worlds largest chip makers, is planning to cut thousands of jobs through targeted layoffs. In response to a slowdown in the personal computer industry, Intel is considering a significant decrease in staff, possibly numbering in the thousands, according to a report by Bloomberg News on October 11. But this requires some difficult decisions.. Erick and Rich explain why Kaseyas new partner program offers encouraging news for Datto partners, why pumping up your LinkedIn profile will help you win business, and why six doctors in Australia ate Lego heads for science. The company actually lost half a billion dollars a 109 percent reduction in profit compared to the $5.1 billion it made in Q2 2021. Additionally, Intel has failed to claw back market share from some of its competitors, such as AMD, which has seen its market share significantly increase over the past five years. https://www.tomshardware.com/news/intel-axes-rialto-bridge-gpus-delays-falcon-shores-to-2025, https://www.gsb.stanford.edu/insights/why-copycat-layoffs-wont-help-tech-companies-or-their-employees, Insane folks who ask Intel to get into the business of fair or unfair laws (by one viewpoint) made by other countries. amid slowing growth, falling stock prices and recession concerns. sent to the state Employment Development Department, the company is laying off 111 employees in Folsom, Calif., and 90 employees in Santa Clara, Calif., which is home to the chipmakers headquarters. Erick and Rich discuss how to spot and avoid burnout, why managing expectations is the key to eliminating costly surprises during customer onboarding, and a pesky woodpecker who deposited 700 lbs. Earlier this week, Microsoft (NASDAQ:MSFT) announced that it is cutting 10,000 jobs. Making wealth creation easy, accessible and transparent. A paper published in the Strategic Management Journal analyzed stock prices of American and Japanese companies at and after they announced layoffs. Metas year of efficiency reportedly isnt off to a good start. The cuts will reportedly be announced as early as this month, around the same time as Intels third-quarter earnings report on October 27th. Funny thing is when I took Intel off of my resume and LinkedIn account, that's when I got callbacks, interviews, and finally a new job. It found that American firms experienced abnormal returns of -1.78%, while Japanese firms had abnormal returns of -0.56%. The layoffs are partly due to incredibly diminished demand for computers (and chips, by extension, Intels core product line). Your day will come. Intel Filed WARN Notice in CA for 833 Layoffs, Work from office may solve performance issues, A good read for the peasants as more famine is coming, Intel releases software platform for quantum computing developers, Pat keeps saying Intel's AI performance is 10X the competition, Where is the extra cost saving coming from, https://www.businesspost.ie/news/intels-global-ceo-to-visit-ireland-for-meeting-with-leixlip-staff-over-challenging-times/. Last quarter Intel's Client Computing Group responsible for PCs commanded about50% of the company's revenue, so if Intel is bracing for a long decline of PC shipments, then management needs to react, which is why it is said to be cutting down its workforce. AMD registered a 62% YoY growth in its data center CPU revenue to hold a 20% market On the date of publication, Joel Baglole held a long position in GOOGL and MSFT. Don't miss out on the top business tech news with Tech.co's weekly highlights reel. INTC stock is down 2.7% as of Wednesday afternoon and down 47.9% since the start of the year. According to a recent report out of . Use this detailed how-to guide from CompTIA to plan and execute your companys diversity and inclusion efforts. readmore, https://twitter.com/pgelsinger/status/1629881476677537792. Voluntary time-off programs allow us an opportunity to reduce short term costs.. What remains to be seen is whether Intel's layoffs will affect any of the company's ongoing projects, such as development of discrete graphics processors for PCs that are hardly competitive against higher-end GPUs by AMD and Nvidia. The U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability: Prices fell the most in these U.S. states, What's next for bonds in 2023 after the worst year in history, Am I crazy? After my mother died, my cousin took her designer purse, and my aunt took 8 paintings from her home then things really escalated, Apples stock has 5 overlooked catalysts that will drive it higher, analyst says, C3.ai CEO Siebel says other tech companies AI hype is just talk as stock spikes toward $3 billion valuation, Hershey put a trans woman on a candy bar, and some customers are calling for a boycott. On a scale of 1-10 how much damage did RK do? In Northern California, where Silicon Valley is based, the job cuts are likely to have a negative impact on local and regional economies. Since, the stock has risen to $26.97, an increase of 7.88% compared to the S&P 500s approximately 2% increase over the same period. This comes as PC demand starts to drop alongside rising inflation. The chipmaker employs 121,000 people globally and reported $15 . Updated: 12 Oct 2022, 07:22 PM IST Sounak Mukhopadhyay Intel cut its year sales and profit goals. Does anyone within the manufacturing organization know what manufacturingis? The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Our results demonstrate a strategy thats working and a solid foundation for growth, CEO Brian Krzanich (pictured) wrote in a memo to employees distributed today. Intel Corp. is planning on announcing "targeted" layoffs in November, according to a report late Thursday, citing an internal video shared with employees. In response to layoff rumors, the companys stock price has risen. Zscaler had $1.9 billion in cash and equivalents on hand, up from . You are now subscribed to our newsletters. The tech industrys moment of reckoning: layoffs and hiring freezes. Intel has already reportedly frozen hiring to keep its numbers from growing as PC demand wanes. They were announced on the same day that Google parent company Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) announced that it is shedding 12,000 positions in preparation for a global recession. All rights reserved. $0 Per Issue Because it's FREE to Channel Pros! maybe it be AI GPU. Investors looking for more of the latest stock market news are in luck! As of this writing, about 10 million shares have traded hands. readmore. The global data center CPU markets revenue declined 4.4% YoY in 2022. I'm going to office for a meeting. With the chip market slowing down, Intel likely faces a situation where it planned for high levels of demand and staffed accordingly, only to find itself with too many workers for todays demand. Opinions expressed by Forbes Contributors are their own. In July, Intel revised its sales forecast for 2022 from $79 billion to $67 billion, a decrease of more than 15%. According to the website Neowin, this includes at least a 5% pay cut companywide, suspension of bonuses, and a reduction in its 401(k) The greatest impacts will likely occur in the sales and marketing departments. Even with all the information, you can never be sure whether it will rise or fall and by how much. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Now, it is laying off workers in an austerity regime while continuing to give shareholders massive payouts. Intel Corporation plans to lay off approximately 200 employees in early 2023. Another Week, Another Round of Layoffs in the Bay Area Food Scene Plus, chef David Nayfeld launches a "Che Fico Scholarship," and more Bay Area food intel by Dianne de Guzman Mar 3, 2023, 10 . It was not sustainable or real: Tech layoffs approach Great Recession levels, third-quarter revenue fell year over year, Apple, Nvidia reportedly among TSMCs first Arizona customers, while Intel preps for return to cutting edge in 2023, VC investors see an R word coming for tech and it isnt just recession, Medicare just crushed the hopes of 750,000 Alzheimers patients a year.

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